Pollard Banknote has posted second-quarter revenue of $142.7m for 2025, up 3.6% year-on-year – a strong result to follow its April acquisition of Pacific Gaming.
The company reported that combined sales, including its share of NeoPollard Interactive (NPi), increased 5.3% to $174.8 m, while adjusted EBITDA was $29.2 m, reflecting timing shifts in customer instant ticket orders.
Income from operations reached $17.4 m, down 12.4% from the same period last year. Significantly, the company’s iLottery segment contributed $19.5 m, a 20% increase compared with 2024.
iLottery and eInstant performance
“Our joint venture iLottery operations achieved a new quarterly record contributing $19.5 m in the quarter,” said Doug Pollard, the company’s Co-CEO, noting that Michigan continues to perform well and that growth is expected as marketing efforts expand.
He also launched eInstant games with Norsk Tipping, the West Virginia Lottery, and the Virginia Lottery.
Meanwhile, John Pollard, also Co-CEO, added: “Our eInstant game studio continues to grow with an expanded game portfolio and new implementations.”
Furthermore, the firm said that it has formed a deal with an independent game designer to add more popular games to its Catalyst platform, aiming to drive faster rollout of in-demand content.
Ancillary products, including lottery management services and loyalty programmes, were lower than 2024, which the company said was influenced by one-off revenues and new contract pricing.
Charitable gaming and strategic moves
By acquiring Pacific Gaming back in April, Pollard aimed to gain a larger footprint in electronic bingo solutions.
The deal expanded Pollard’s charitable gaming portfolio, adding Pacific’s bingo handhelds, blowers, point-of-sale systems and management solutions.
Steven Fingold, Executive VP of Charitable Gaming at Pollard Banknote, said at the time: “Pacific has long been a leader in electronic bingo solutions and we’re excited to have them join our charitable games group.
“This acquisition further highlights Pollard Banknote’s ongoing commitment to the charitable gaming market.”
The integration has reportedly progressed smoothly, while Pollard also extended its Arizona Lottery warehousing and distribution contract through 2029.
Gross margin for the quarter was 16.7%, slightly lower than last year, driven by eTab contributions, instant ticket margins and startup costs for the Kansas iLottery operation.
John Pollard continued: “Our third quarter will benefit from higher volumes of instant tickets and continued strength in our other business lines.”
The company noted that having US and Canadian facilities helps it manage potential tariff impacts and supply chain challenges.
Doug Pollard concluded: “We continue to focus on investing for long-term growth, and we are confident in the opportunities in instant tickets, eInstants, iLottery and charitable gaming.”